Robeco Institutional Asset Management B.V. Purchases 190,294 Shares of Etsy, Inc. (NASDAQ:ETSY)

Robeco Institutional Asset Management B.V. raised its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 74.1% during the fourth quarter, Holdings Channel reports. The fund owned 447,128 shares of the specialty retailer’s stock after buying an additional 190,294 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Etsy were worth $23,649,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ETSY. Blue Trust Inc. raised its position in Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 231 shares during the period. UMB Bank n.a. grew its stake in shares of Etsy by 112.3% during the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 292 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Etsy in the third quarter worth about $43,000. Versant Capital Management Inc lifted its stake in shares of Etsy by 153.1% in the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after acquiring an additional 499 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in Etsy during the 3rd quarter valued at about $59,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ETSY. Bank of America lowered their price objective on Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. JMP Securities reissued a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Truist Financial decreased their price objective on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 target price on shares of Etsy in a report on Monday, October 7th. Finally, Stifel Nicolaus reduced their price target on Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $62.42.

Etsy Stock Up 1.8 %

ETSY stock opened at $56.06 on Friday. The business has a 50 day moving average of $55.15 and a 200 day moving average of $54.63. Etsy, Inc. has a twelve month low of $47.10 and a twelve month high of $80.30. The firm has a market cap of $6.31 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 2.55 and a beta of 1.99.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.09). Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The company had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $652.47 million. During the same period in the prior year, the firm earned $0.64 EPS. Etsy’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, research analysts expect that Etsy, Inc. will post 2.26 earnings per share for the current fiscal year.

Etsy announced that its board has approved a share buyback plan on Wednesday, October 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 17.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

About Etsy

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.